East Harlem

East Harlem used to fly under the "hot neighborhood" radar, but that's no longer the case. This formerly rough-and-tumble neighborhood -- also known as Spanish Harlem -- has been transformed by an onslaught of residents populating new condos and rentals.

Some of the new developments have price tags that soar as high as the cranes that dot the skyline. The Emery Roth-designed 1200 Fifth Avenue, a 16-story condo, has sold units for more than $6 million.

Still, with prices typically below $700 per square foot, most of East Harlem's new products are relative bargains compared with most Manhattan neighborhoods. A boomlet is occurring in the neighborhood's southern fringe, where new condo developments include the 28-unit Aura (330 East 109th St.) and the eco-friendly Observatory Place condo at First Avenue and 104th Street.

And retail is on the rise, too. At 116th Street and FDR Drive, the East River Plaza shopping mall features all the stores needed to furnish that brand-new apartment: Home Depot, Best Buy and Target.